Say goodbye to the golden age of the container ship. Compared with the level of economic growth, global trade is in the midst of its worst slowdown in decades. And even if imports and exports pick up speed, economists say that will have more to do with the Internet and services providers than with traditional products and commodities shipped on the high seas. The immediate causes of the trade slump are China’s abrupt manufacturing slowdown, a deep slide in commodity prices, and conflicts that have triggered sanctions with Russia and other countries. But deeper problems for merchandise trade have been building for years.
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Authors: THE WALL STREET JOURNAL